Having 1.5 million less BTC doesn't really matter (I know this sounds stupid, relax), because bitcoin is the largest unit of BTC, not taking into account mBTC or satoshis, if we need to talk about a very small amount of money.
Also, who said we are lacking 1.5 Million BTC, it sounds like a stupid guess, because it sounds like too much of BTC that is lost, so unless there are substantial proof, which I don't think there is, because dormant addresses (which is likely what OP is going off) could just be cold storages.
Topic: The Continues Downfall in Bitcoin Circulation threating traders (Read 247 times)
November 24, 2019, 03:36:53 AM
an ongoing examination from Coinmetrics proposes that
these things have never been reliable at all. they are usually released by a company that is trying to make a name for themselves in the "blockchain analysis" space and sell their services after they gained some popularity. and worst thing is that most of their data is based on pure guesses but they don't mention it in their final report. for example in this case the number 1.5 million is purely a guess. basically someone a couple of years ago estimated Satoshi to have 1 million coins, and from that day forward every one of these so called "analysts" are using that as their base pretending they have done extensive research!
also as others already mentioned, this is not even close to being a "threat" to anyone most of all traders!
November 24, 2019, 02:58:07 AM
I think there is no problem with the supply of Bitcoin. Since this platform is decentralized so you have to consider that Bitcoin price will always be volatile because no one can control this platform so far, in this system, There are also some people who make this Bitcoin's price always vulnerable because they have a huge Bitcoin, So only Bitcoin owners could do anything for this system, that's why when a treader enter to this platform he or she should know it very sincerely, for me, It's not a blame game so you have to take your own responsibility but treader should not be panicked because of the potential future.
November 23, 2019, 10:52:59 PM
I don't see it as a threat to traders at all. Bitcoin's price is volatile and can adjust to the demands. Simply if you put the law of demand and supply, you'll see that it doesn't affect the traders negatively. Looking a the amount of lost bitcoin, I think it's more of regret and such a waste to think that if you contributed or part of that 1.5 million lost bitcoin. Probably most of that is from the past where bitcoin isn't that known.
November 23, 2019, 06:16:28 PM
There is no need to entertain any as far as the lost Bitcoin is concerned I understand that you are overwhelmed with the huge amount of Bitcoin missing which you think it would have a drastic implications to traders nevermind the missing Bitcoin could as a of result of hodlers not getting access to them due to loss password or death of the owner invariably this would not affect the price of Bitcoin
November 23, 2019, 06:05:37 PM
OP the problem is that you are focusing on the number of bitcoins and not it's value. Bitcoin is not like fiat currency such as the US Dollar whose digital value is constant. 100 Dollar bill remains 100 Dollar bill no matter the circulation but the value of 1 Bitcoin 5 years ago pegged against the standard USD isn't same as the value of 1 Bitcoin today due to demand.
It's because bitcoin much smaller units called satoshis which can still hold higher value if the demand is too much and the circulation supply of bitcoin is so low. So even if there were only 1000 bitcoins left in circulation, we could still easily transact in satoshis with no problem so long as they hold value.
It's because bitcoin much smaller units called satoshis which can still hold higher value if the demand is too much and the circulation supply of bitcoin is so low. So even if there were only 1000 bitcoins left in circulation, we could still easily transact in satoshis with no problem so long as they hold value.
November 23, 2019, 05:58:49 PM
Supply is never going to be an issue when it comes to bitcoin, because when we are technically looking at everything, a single bitcoin is able to be split up to satoshis, and each of these satoshis can have a certain value to them, making the supply immense.
There are some bitcoins that are known to be lost, and it's not like they are hacked/corrupted or anything, it's just the owner may have died, or the wallet key is lost, or other careless actions that means they can't access the wallet.
There are some bitcoins that are known to be lost, and it's not like they are hacked/corrupted or anything, it's just the owner may have died, or the wallet key is lost, or other careless actions that means they can't access the wallet.
November 23, 2019, 05:51:21 PM
Actually, some studies allege that more than 4 million bitcoins are lost forever. More Bitcoins will be lost in the future. This is due to a variety of reasons such as the death of the wallet owner, lost private keys, burning coins...
What you should know is that it doesn't really matter. Satoshi answered those concerns 10 years ago:
and
What you should know is that it doesn't really matter. Satoshi answered those concerns 10 years ago:
Eventually at most only 21 million coins for 6.8 billion people in the world if it really gets huge.
But don't worry, there are another 6 decimal places that aren't shown, for a total of 8 decimal places internally. It shows 1.00 but internally it's 1.00000000. If there's massive deflation in the future, the software could show more decimal places.
But don't worry, there are another 6 decimal places that aren't shown, for a total of 8 decimal places internally. It shows 1.00 but internally it's 1.00000000. If there's massive deflation in the future, the software could show more decimal places.
and
Those coins can never be recovered, and the total circulation is less. Since the effective circulation is reduced, all the remaining coins are worth slightly more.
November 23, 2019, 05:19:32 PM
Whenever some news is coming through an article or some source we should not understand it as the words from the specialists or experts. With cryptocurrency things will be cent percent on predictions, and the coincidence is the one that makes the article true or not. Everything is a form of manipulation, but it can be experts point of view. This way nothing threatens if we're good to go with our plan and believe in the market.
November 23, 2019, 04:32:42 PM
I don't see and I can't understand why it became a threat to traders? honestly, how that can be a threat? This news is spreading fear to the people and although I'm not a day trader anymore, I understand that those lost bitcoins forever are not even a threat. They're all burned and that doesn't matter because there's still a lot of bitcoins that flows in the market. What does the author of this article thinks about having a lesser supply? I can't see the relationship of it.
November 23, 2019, 03:08:55 PM
As per the official reports, till 19 October 2019 around 18 million BTC have entered flow, which occurred at square 600,000. In any case, an ongoing examination from Coinmetrics proposes that over 1.5 million Bitcoins are unavailable for general use forever.
So where are these 1.5 million BTC
The maker of Bitcoin, Satoshi Nakamoto made a Bitcoin on such a structure, that following of each Satoshi is incomprehensible, so it’s very hard to discover what befell those lost 1.5 million BTC.
In spite of the fact that specialists are putting forth a valiant effort to discover what befell this gigantic measure of BTC supply.
Reports from these specialists propose that there are at any rate 1,501,730.43842331 lost Bitcoins and 197,047.31922097 taken Bitcoins.
Source: TheCoinRepublic
How is it threatening traders? The supply is being eroded which means the price will shoot up as demand is increasing and supply will fall so most of traders will benefit from it. Moreover this is nothing but a self correcting economic phenomena. Even Satoshi would have thought that some Bitcoins would definitely get lost forever but the Intrinsic Price would be adjusted accordingly so that the market price discounts for these losses. Moreover, this is just a start I am expecting even more BTC to go out of circulation in coming future. There is no need to find these 1.5 Million because we know they are lost. Moreover divisibility of bitcoin is never an issue some have said even micro satoshi exists as a unit of Bitcoin so what's the issue? So where are these 1.5 million BTC
The maker of Bitcoin, Satoshi Nakamoto made a Bitcoin on such a structure, that following of each Satoshi is incomprehensible, so it’s very hard to discover what befell those lost 1.5 million BTC.
In spite of the fact that specialists are putting forth a valiant effort to discover what befell this gigantic measure of BTC supply.
Reports from these specialists propose that there are at any rate 1,501,730.43842331 lost Bitcoins and 197,047.31922097 taken Bitcoins.
Source: TheCoinRepublic
November 23, 2019, 01:38:10 PM
The less coins circulating could also mean most are now just holding.
There were BTC wallets where there were still few thousands of satoshis not enough to be sent since the transaction fee is much higher than the amount inside. I did have such wallet that I just uninstall it, these are wallet I use to gamble and lose everything there. If thousands to millions of us forget the wallets we have which still have about 1k satoshi in there, there will be thousands of BTC lost if we are to add them all.
November 23, 2019, 01:20:10 PM
Loved to read about:
Other ways BTC are being lost maybe that they are sent to non-existing address, or some other coins addresses. Some accounts are inaccessible by their user and bitcoins received in such account are unrecoverable. There is also a significant number of accounts containing and holding 1000 BTC or more which is keeping those BTC out of circulation for a long period of time.
I do think if these sort of inactive BTCs as their users could be deleted if there is a garanteed 100% possibility those accounts can no longer go active.
That would make new investors to progress and make bitcoin price increase that would return price back to the top as it once was.
Other ways BTC are being lost maybe that they are sent to non-existing address, or some other coins addresses. Some accounts are inaccessible by their user and bitcoins received in such account are unrecoverable. There is also a significant number of accounts containing and holding 1000 BTC or more which is keeping those BTC out of circulation for a long period of time.
I do think if these sort of inactive BTCs as their users could be deleted if there is a garanteed 100% possibility those accounts can no longer go active.
That would make new investors to progress and make bitcoin price increase that would return price back to the top as it once was.
November 23, 2019, 12:55:12 PM
This does not threaten anybody, nor will it ever be a serious problem in the future considering that bitcoin is highly divisible up to its core.
I can see those useless topics and "news" on websites everywhere since a few wedays ago.
.. As if those 1.5 million Bitcoin's were lost last week.
That's a só irrelevant information that I can't understand why so much people pay attention to this ..
Soon we will some idiot link both useless trending topics "Google quantum supremacy will try to recover lost Bitcoin" lol
November 23, 2019, 12:43:11 PM
This does not threaten anybody, nor will it ever be a serious problem in the future considering that bitcoin is highly divisible up to its core. This special property of bitcoin solves the limited supply/availability that is capped @ 21 million, and ensures that there will be some more left for people to share even if the supply is exhausted. Traders are more threatened by new players with deeper pockets that can easily manipulate everything on the price, including the different facets of the market and other aspects of the economy.
Supply cap is a non-problem, and never will be.
Supply cap is a non-problem, and never will be.
November 23, 2019, 11:11:56 AM
1 Bitcoin can split up to 100,000,000 satoshi so don't worry. The decrease in bitcoin circulation means that the market will be more scarce and people will want to own more Bitcoin. The market situation is now dominated by some bad news and bitcoin holders are trying to manipulate the market to own more bitcoins.
November 23, 2019, 08:01:17 AM
As per the official reports, till 19 October 2019 around 18 million BTC have entered flow, which occurred at square 600,000. In any case, an ongoing examination from Coinmetrics proposes that over 1.5 million Bitcoins are unavailable for general use forever.
So where are these 1.5 million BTC
The maker of Bitcoin, Satoshi Nakamoto made a Bitcoin on such a structure, that following of each Satoshi is incomprehensible, so it’s very hard to discover what befell those lost 1.5 million BTC.
In spite of the fact that specialists are putting forth a valiant effort to discover what befell this gigantic measure of BTC supply.
Reports from these specialists propose that there are at any rate 1,501,730.43842331 lost Bitcoins and 197,047.31922097 taken Bitcoins.
Source: TheCoinRepublic
So where are these 1.5 million BTC
The maker of Bitcoin, Satoshi Nakamoto made a Bitcoin on such a structure, that following of each Satoshi is incomprehensible, so it’s very hard to discover what befell those lost 1.5 million BTC.
In spite of the fact that specialists are putting forth a valiant effort to discover what befell this gigantic measure of BTC supply.
Reports from these specialists propose that there are at any rate 1,501,730.43842331 lost Bitcoins and 197,047.31922097 taken Bitcoins.
Source: TheCoinRepublic
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